Variation of Warrants and Issue of New Shares

Aterian Plc (LSE: ATN), ("Aterian" or the "Company") announces a variation to the terms of certain warrants and an issue of new shares.

The Company has in issue 1,295,718 warrants to subscribe for new ordinary shares of 10 pence each ("Shares") at an exercise price of 150 pence, exercisable at any time until 30 December 2025 ("Warrants"). Holders of the Warrants were given the opportunity to voluntarily accept a change to these terms such that the exercise price was lowered to 50 pence and the expiration date amended to 14 November 2024. The holders of 270,834 Warrants elected to accept these amended terms with the remainder choosing to remain on the original terms.

Consequently, the Company has issued a total of 270,834 Shares at a price of 50 pence per share from the exercise of warrants and issued an additional 86,400 ordinary Shares at 50 pence per share to certain suppliers in lieu of outstanding fees. The proceeds of the warrant exercise will be used for general corporate and financial expenses. Those warrant holders not taking up the offer retain their warrant positions which remain as they were prior to the the offer.

Application is being made for the 357,234 new Shares to be admitted to the Official List and to trading on the Main Market of the London Stock Exchange which is expected to be on or around 14 November 2024. These shares rank pari passu with the existing Shares of the Company. Following the issue of the 357,234 new Shares, the Company's issued ordinary share capital shall consist of 12,037,044 Shares.

This figure of 12,037,044 represents the total voting rights in the Company and should be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance & Transparency Rules.

For further information, please visit the Company's website: www.aterianplc.com or contact:

Aterian Plc:

Charles Bray, Executive Chairman - charles.bray@aterianplc.com

Simon Rollason, Director - simon.rollason@aterianplc.com

Financial Adviser and Joint Broker:

Novum Securities Limited

David Coffman / George Duxberry

Colin Rowbury

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Adam Cowl

Financial PR:

Bold Voodoo - ben@baldvoodoo.com

Ben Kilbey